Every divorce includes making decisions about dividing up the assets. Before you start negotiating with your spouse about who will get what, take some time to build a comprehensive list of all the assets owned by either you or your spouse. Only when you feel confident that your list includes everything, and that you have an accurate value for each item, should you begin to think about who will keep what. As you begin to build your list, keep in mind these do’s and don’ts.

Section 121 of the Internal Revenue Code allows some homeowners to reduce the tax owed on the sale of their home. Generally, the rules require that the homeowner has used and owned the home for a certain length of time. Sometimes, divorce results in a situation where the spouse keeping the home is seemingly unable to meet these requirements. Fortunately, there are two special rules for divorced homeowners.

Savvy taxpayers know they can use Section 121 of the Internal Revenue Code to reduce the tax owned when they sell their home. If you are divorcing, don’t keep the house without first estimating what your tax bill will be if you sell the house as a single person.

Beware assigning your ex-spouse the responsibility of paying off joint credit card debt. If they fail to make the payments, you will be on the hook with the credit card companies. Minimize exposure to your ex-spouse’s financial misdeeds by taking responsibility for paying off joint credit card debt or ensuring that all joint credit card debt gets repaid before your divorce is settled.

Thinking about keeping the home in your divorce? Make sure you can afford the mortgage along with your other monthly expenses. Don’t forget to include the costs of routine maintenance, large one-off expenses, and the expense of hiring someone to do the chores your ex-spouse used to do.